Kleek Developments has officially entered Egypt's real estate market with the launch of its first project, Noll New Cairo. The company also announced plans to invest EGP 100bn in the real estate sector over the next five years. Hussein Dawood, Board Member of Kleek Developments, revealed that Noll New Cairo is located in the Sixth Settlement area of New Cairo. The project spans 90 feddans and will feature residential units ranging from 80 to 380 sqm. The residential section consists of buildings with a ground floor and seven stories. The development will also include commercial spaces, clinics, and administrative offices. Mohamed Sakr, Board Member of Kleek Developments, highlighted that the company has appointed Yasser Al Beltagy Architects (YBA) as the project's engineering consultant, while MRP will manage the overall development. Sakr also mentioned that Kleek Developments has acquired a land bank of 150 feddans and is actively exploring additional investment opportunities to expand its portfolio. Sakr emphasized that the company is relying on self-financing for its projects, reflecting its strong financial position and commitment to executing the Noll New Cairo project without depending on marketing revenues. Kleek Developments aims to reach EGP 100bn in investments over its first five years in the market. Tarek El-Mohamady, Board Member of Kleek Developments, explained that the Sixth Settlement area was chosen for the project due to its proximity to major roadways, upscale residential communities, and the elevated land that offers attractive views. The area is also known for its spacious green areas, making it a prime location within New Cairo. Construction is set to begin soon, with an expected delivery timeline of three years. Kleek Developments plans to invest up to EGP 500m in the project's construction in 2025, ensuring a disciplined and on-schedule delivery for clients. Looking ahead, the company plans to expand into the North Coast and New Administrative Capital, as part of its long-term growth strategy. Kleek Developments was founded through a partnership between Emaar El Delta for Real Estate Investment and Style Home Development. The company leverages over 20 years of combined experience in the Egyptian real estate market and is backed by ambitious investment plans. Its shareholder structure includes industry leaders like Eng. Hussein Dawood, CEO of Style Home Development, and Dr. Mohamed Sakr and Tarek El-Mohamady, CEOs of Emaar El Delta.
